Get the car of your dreams and benefit from no ongoing fees with a car loan from UniBank
With the UniBank Car Loan, you are able to benefit from a competitive variable interest rate which will help you get into the car of your dreams faster than you thought. With a variable rate loan, you are able to redraw payments that you have already made and can access that money in case your new car needs an unscheduled maintenance. It’s this flexibility that is the ultimate draw card for this variable rate loan. However, the interest rate fluctuates from month to month and this is something to keep in mind before applying.
Things to consider about the UniBank Car Loan
With a 9.95% p.a. interest rate and a competitive 10.64% p.a. offered, the interest rate will impact your repayments. You can borrow a minimum of $2,000 and a maximum of $50,000 and the loan terms are a minimum of 1 year(s) and a maximum of 6 year(s). The car you want to purchase can be a new vehicle, a used vehicle less than 10 years old or a classic car over 30 years old.
You can expect to hear a reply regarding your application within two business days.
Features of the UniBank Car Loan
There are many features included in this personal loan, which include:
- No ongoing fees. Once you pay the application fee associated with the loan, there are no extra charges that are associated, such as a monthly charge.
- Large minimum amount. You are able to borrow a minimum of $2,000 and a maximum of $50,000 to get the wheels of your dreams.
- Short loan term. As this is a personal loan, the terms are short. This loan offers a term up to 6 year(s), which sounds like a long time but will fly by in the rearview mirror of your new car.
- Competitive rates. This loan comes with a competitive variable rate starting from 9.95% p.a. and 10.64% p.a.
- Option to make extra repayments. You have the option to make extra repayments with this loan, which can help you pay it off faster.
- No penalty for extra repayments. Worried about fees for making extra repayments? Don’t be! There’s no penalty for having a bit of extra cash around and making another repayment on your loan.
- Choose your repayment schedule. You are able to choose between weekly, fortnightly or monthly repayments. This allows you to tailor the repayment schedule to your cash flow.
- Fee-free redraw facility. Realised that you need some money in a pinch? Take advantage of the fee-free redraw facility offered with this loan and get access to additional repayments that you’ve made.
- Access to banking. You have access to internet, mobile and telephone banking whenever you need it, available 24/7.
- Can add extras. Need a car navigation system, a car alarm or realised you don’t have car insurance? You can add these into your loan and pay them off as you go!
Fees and charges
Some of the fees you can expect with this loan include:
- An application fee. This is one off and $100.
- A direct debit dishonour fee of $8.
- An electronic deposit dishonour fee of $25.
- A late payment fee of $10.
Apart from the fees above, there are no ongoing or monthly fees associated with this loan. Although they seem like small amounts in a one off sense, they can really add up over the term of your loan. Keep an eye on them!
How to apply for the UniBank Car Loan
Applying for the Unibank Car Loan is easy. Simply click on “Go to Site” and ensure you meet the following requirements:
- Be an Australian citizen or permanent resident.
- Be over the age of 18.
- Have adequate identification, which includes two forms of ID which can include your driver’s licence, Medicare card, passport or birth certificate.
- You must also be a member of UniBank and become a shareholder within the company. This can be done online.
- You must show your assets and liabilities situation to show you have the ability to pay off this loan.
- You must also agree to a credit check, as your credit score has an impact on your eligibility for the loan.
While you benefit from no penalties for early repayments, it’s important to consider whether this personal car loan meets your individual needs. Compare other loans before making a decision.